Exam 3: Supply and Demand

For each of the following sets of supply and demand curves,calculate equilibrium price and quantity. a.Q_D = 2000 - 2P; Q_S = 2P b.Q_D = 500 - P; Q_S = 50 + P c.Q_D = 5000 - 10P; Q_S = -1000 + 5P

(Essay)

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Question 21

Which of the following is a common determinant of both supply and demand?

(Multiple Choice)

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Question 22

Which of the following will change only the quantity demanded of oranges?

(Multiple Choice)

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Question 23

Suppose that the demand for oranges increases.Explain the long-run effects of the guiding function of price in this scenario.

(Essay)

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Question 24

Which of the following would lead to a short-run market surplus for tomatoes?

(Multiple Choice)

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Question 25

Which of the following could cause a long-run shift in demand as part of the "guiding function of price"?

(Multiple Choice)

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Question 26

Which of the following will not cause the demand curve for good X to shift?

(Multiple Choice)

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Question 27

Industry supply and demand are given by Q_D = 1000 - 2P and Q_S = 3P. a.What is the equilibrium price and quantity? b.At a price of $100,will there be a shortage or a surplus,and how large will it be? c.At a price of $300,will there be a shortage or a surplus,and how large will it be?

(Essay)

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Question 28

In the short run,a change in the equilibrium price will

(Multiple Choice)

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Question 29

Which of the following will not cause a short-run shift in the supply curve?

(Multiple Choice)

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Question 30

Which of the following is correct? The supply curve will shift when

(Multiple Choice)

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Question 31

If the price of a substitute increases,which of the following is most likely to happen in the market for the product under consideration in the short run?

(Multiple Choice)

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Question 32

An increase in input prices will cause

(Multiple Choice)

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Question 33

In the long run if there is a shortage in the market for a product,the guiding (allocation)function of price can be expected to cause

(Multiple Choice)

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Question 34

Suppose that macroeconomic forecasters predict that the economy will be expanding in the near future.How might managers use this information?

(Essay)

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Question 35

The "law" of demand can be best described by

(Multiple Choice)

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Question 36

Which of the following statements is false?

(Multiple Choice)

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Question 37

All of the following are non-price determinants of demand except

(Multiple Choice)

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Question 38

Which of the following would indicate that price is temporarily above its market equilibrium?

(Multiple Choice)

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Question 39

The switch to the use of ethanol in gasoline is driven primarily by its relatively lower price.Assuming a competitive market,what effect would this change have on the equilibrium price and output for gasoline?

(Multiple Choice)

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Question 40

Showing 21 - 40 of 53

For each of the following sets of supply and demand curves,calculate equilibrium price and quantity. a.Q_D = 2000 - 2P; Q_S = 2P b.Q_D = 500 - P; Q_S = 50 + P c.Q_D = 5000 - 10P; Q_S = -1000 + 5P

Which of the following is a common determinant of both supply and demand?

Which of the following will change only the quantity demanded of oranges?

Suppose that the demand for oranges increases.Explain the long-run effects of the guiding function of price in this scenario.

Which of the following would lead to a short-run market surplus for tomatoes?

Which of the following could cause a long-run shift in demand as part of the "guiding function of price"?

Which of the following will not cause the demand curve for good X to shift?

Industry supply and demand are given by Q_D = 1000 - 2P and Q_S = 3P. a.What is the equilibrium price and quantity? b.At a price of $100,will there be a shortage or a surplus,and how large will it be? c.At a price of $300,will there be a shortage or a surplus,and how large will it be?

In the short run,a change in the equilibrium price will

Which of the following will not cause a short-run shift in the supply curve?

Which of the following is correct? The supply curve will shift when

If the price of a substitute increases,which of the following is most likely to happen in the market for the product under consideration in the short run?

An increase in input prices will cause

In the long run if there is a shortage in the market for a product,the guiding (allocation)function of price can be expected to cause

Suppose that macroeconomic forecasters predict that the economy will be expanding in the near future.How might managers use this information?

The "law" of demand can be best described by

Which of the following statements is false?

All of the following are non-price determinants of demand except

Which of the following would indicate that price is temporarily above its market equilibrium?

The switch to the use of ethanol in gasoline is driven primarily by its relatively lower price.Assuming a competitive market,what effect would this change have on the equilibrium price and output for gasoline?

Introduction

The Firm and Its Goals

Demand Elasticity

Demand Estimation and Forecasting Appendices 5A and 5B

The Theory and Estimation of Production Appendices 6A,6B,and 6C

The Theory and Estimation of Cost Appendices 7A,7B,and 7C

Pricing and Output Decisions: Perfect Competition and Monopoly Appendices 8A and 8B

Pricing and Output Decisions: Monopolistic Competition and Oligopoly

Special Pricing Practices

Game Theory and Asymmetric Information

Capital Budgeting and Risk

The Multinational Corporation in a Global Setting

Government and Industry: Challenges and Opportunities for Todays Manager

The Global Soft Drink Industry

Filters

Exam 3: Supply and Demand

For each of the following sets of supply and demand curves,calculate equilibrium price and quantity. a.QD = 2000 - 2P; QS = 2P b.QD = 500 - P; QS = 50 + P c.QD = 5000 - 10P; QS = -1000 + 5P

Which of the following is a common determinant of both supply and demand?

Which of the following will change only the quantity demanded of oranges?

Suppose that the demand for oranges increases.Explain the long-run effects of the guiding function of price in this scenario.

Which of the following would lead to a short-run market surplus for tomatoes?

Which of the following could cause a long-run shift in demand as part of the "guiding function of price"?

Which of the following will not cause the demand curve for good X to shift?

Industry supply and demand are given by QD = 1000 - 2P and QS = 3P. a.What is the equilibrium price and quantity? b.At a price of $100,will there be a shortage or a surplus,and how large will it be? c.At a price of $300,will there be a shortage or a surplus,and how large will it be?

In the short run,a change in the equilibrium price will

Which of the following will not cause a short-run shift in the supply curve?

Which of the following is correct? The supply curve will shift when

If the price of a substitute increases,which of the following is most likely to happen in the market for the product under consideration in the short run?

An increase in input prices will cause

In the long run if there is a shortage in the market for a product,the guiding (allocation)function of price can be expected to cause

Suppose that macroeconomic forecasters predict that the economy will be expanding in the near future.How might managers use this information?

The "law" of demand can be best described by

Which of the following statements is false?

All of the following are non-price determinants of demand except

Which of the following would indicate that price is temporarily above its market equilibrium?

The switch to the use of ethanol in gasoline is driven primarily by its relatively lower price.Assuming a competitive market,what effect would this change have on the equilibrium price and output for gasoline?

Introduction

The Firm and Its Goals

Demand Elasticity

Demand Estimation and Forecasting Appendices 5A and 5B

The Theory and Estimation of Production Appendices 6A,6B,and 6C

The Theory and Estimation of Cost Appendices 7A,7B,and 7C

Pricing and Output Decisions: Perfect Competition and Monopoly Appendices 8A and 8B

Pricing and Output Decisions: Monopolistic Competition and Oligopoly

Special Pricing Practices

Game Theory and Asymmetric Information

Capital Budgeting and Risk

The Multinational Corporation in a Global Setting

Government and Industry: Challenges and Opportunities for Todays Manager

The Global Soft Drink Industry

Filters

For each of the following sets of supply and demand curves,calculate equilibrium price and quantity. a.Q_D = 2000 - 2P; Q_S = 2P b.Q_D = 500 - P; Q_S = 50 + P c.Q_D = 5000 - 10P; Q_S = -1000 + 5P

Industry supply and demand are given by Q_D = 1000 - 2P and Q_S = 3P. a.What is the equilibrium price and quantity? b.At a price of $100,will there be a shortage or a surplus,and how large will it be? c.At a price of $300,will there be a shortage or a surplus,and how large will it be?